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NATIONALLY ADVER.TISED which leads to prosperity. It is the missing ingredient in the retail lumber industry. We now have the markets, the materials, the money, the method (installment selling), but they are all meaningless unless we put them to work with good salesmanship. No other retail industry faces greater selling opportunities than is represented in the farm market. We are nearly 20 years behind in our normal farm building program. Not o.nly that but we need repairs and remodeling for practically every building in the United States, and are more than three million homes behind in our home building program.

Retril lmber dealen fqrured ar plece to buy-bring )ru nor. buire'.

"Banks are filled to overflowing with idle money. A vast segment of our population is now debt free. When idle credit begins to make use of idle dollars idle men will go to work. This job has been made easier with the coming of installment selling, which makes it possible for the lumber dealer to adjust his selling program to the buying habits of his prospective customers, who are better able to pay for the things they buy in monthly installments instead of in a lump sum.

"The public isn't interested in raw materials. They think best in terms of the complete unit, especially when it can be purchased on the monthly payment plan. Under such circumstances the price per thousand, per pound or per gallon of raw materials is of secondary importance and selling at a profit becomes possible provided the dealer employs good salesmanship in the conduct of his business."

"\il'hat Can We DoTo Save Our Economic System"

Dr. Thomas Nixon Carver, Professor of Political Economy, Emeritus, Ifarvard lJniversity, rvas the last speaker on the morning session. His topic was "What Can We Do To Save Our Economic System ?"

"The fundamental feature of our system is its voluntary character." Dr. Carver said. "But whether we like it or not the drift since the world war is towards more government control. The right of free speech is admitted but there's no more reason why speech should be free from government control than business. Who is capable of telling business people what to do?"

"Whether our system will be overthrown will depencl on whether we can find employment for the unemploved under the voluntary system. Men who know how can create jobs by utilizing capital, labor and land. Such men must have courage, enterprise and knowledge. They must be 'enterprisers.'

"It always takes a combination of factors to produce any result, and all the factors must be present. One factor that mnst be present to combat any depression is confident enterprisers who know how to do something new. These men can create employment, but are discouraged by a government that says in effect: 'if you start something new and fail, it's your loss, but if you make money we will take it away from you."'

The speaker concluded by citing some of the popular false ideas that endanger the economic system, such as the idea that taking money from one group and giving it to another will benefit both, and that anything.can be gained by giving something for nothing.

Friday Afternoon

W. K. Kendrick presided. J. A. McCain, Kerckhoff-Cuz- ner Mill & Lumber Co., Los Angeles, won the $10.0O attendance prize, and the $5.00 prize was won by George Clough, San Pedro Lumber Company, Los Angeles.

G. W. Deniston, executive secretary, Tax Reduction Foundation, Los Angeles, talked on "How to Reduce Taxes 5/o Per Year for Five Years."

"Auction Block or Price Control"

"Auction Block or Price fenfrol," was the subject chosen by Arthur A. Hood, manager of the Housing Guild Division of Johns-Manville, Nerv York City.

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"Every man engaged in the retailing of building materials has an investment in this industry. Some have invested money-important money. The balance are investing their time and their energies. Both t1'pes of investors have but ens rn6fiv6-to make a profit." Mr. Hood saicl.

"The formula for making a profit, reclucecl to its simplest terms, is to make a sale to a consnmer at a selling price which exceeds all costs. We say, 'to a consumer,' advisedly because the selling process is not complete until the constlmer has purchased. The contractor is not a consumer since his only interest in materials is as an adjunct to his services.

"The building materials dealer is faced rvith the choice between controlling the sale and the selling price to the consumer, or putting his rnaterials on the auction block ancl jeopardizing the pr'ofit to which he is entitled.

"The man who contacts the consumer, builds the price of the completed unit and quotes the price to the consrlmer, controls the sale. No retailer can consistently control either distribution or his selling prices so long as he permits anyone to stand betr,veen him and the consumer.

"Without this control the auction block or bid-and-ask basis of doing business is his only alternative. On such a lrasis he cannot help but be exposecl to everv hazarcl and pitfall of the competitive situation."

Mr. Hood gave some rules for better n.rerchandising in the form of a prescription, r'vhich rvas as follows : l. Run up the flag "Building Industry lTeaclquarters" at 1'onr place of business.

2. Equip yourself and yonr organization to fulfill that slogan.

3. Educate the buying public and the industry to recognize your company as headquarters.

4. Expand advertising, promotion and direct sales work logically until consumers get the habit of coming to you first, your contractors are busy, and your organization is rvorki.ng to capacity.

He followed with an outline of the plan of the National Housing Guild, which he said is founded on creative merchandising and selling.

"Tested Selling Methods" Program

"The Merchandising Institute of the National Retail i-umber Dealers Asso,ciation 'Tested Selling Methods' Program" was the title of the Address by Paul E. Kendall, field director, Merchandising Institute of the N.R.L.D.A., Rochester, N. Y.

IVIr. Kendall asked the follorving kuestions, which he answered himself, relating to good selling: "Can we do a better selling job ?"; "Is there need for a better selling job?"; "What keeps us from doing a better selling job?"; "What do rve need first in order to do a better selling job ?"; and "Where can we get needed and profitable information on a better selling job ?"

"The establishment of the Merchandising Institute itself is a plain indication that there is norv a greater interest in good selling than ever before," he said.

In outlining the "Tested Selling Methods" Program of the Merchandising fnstitute, he stated, the objectives are:

1. To bring to the dealer and his organization the best selling methods in the building field.

2. To develop the knowledge, confidence, and selling ability essential to more, profitable sales.

3. To help dealers and their men to clinch sales now beirrg lost.

1. Show how to develop and grasp sales opportunities 'hat are now being overlooked.

5. Develop the kind of selling every lumber dealer and building material dealer and his men need.

6. l\1[619 521s5-quicker sales-better profits.

"The'Tested Selling Methods' Program," continued Mr. Kendall, "is the result of three years' work by lumber and building material dealers, rvho conceived it, planned it, made it possible, and carried it through.

"It is unique in that, as far as we know, it is the first 'rvell-organized, determined attempt on the part of retail dealer associations in collaboration with manufacturers' associations, to point the way to improved selling by retail clealers. It is centered on a most urgent problem-from the dealer's own point of view. Behind it stands a united inclrrstry. Tt is a non-profit organization, formed by dealers u'ith the assistance of producers and manufacturers, to serve the retail dealer by assisting him to increase his sales and his profits."

The Merchandising Institute of the N.R.L.D.A. is composed of the follorving associations which have provided the initial funds for the preparation of the program: Naional Retail Lumber Dealers Association and affiliated state and regional associations; National Lumber Manufacturers Association, and affiliated manufacturers' associations; Insulation Board Institute; and Asphalt Shingle and Roofing Institute.

(Continued on Page 15)

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